Smart Cities in South Korea 2019
The Smart Cities Expert Mission travelled to South Korea in June 2019. The findings and insights gathered during the delegation’s time are shared in this report.
Abstract from outcome report:
Ranked first in the Bloomberg Innovation Index1 globally for six years in a row, the Republic of South Korea (Korea) is regarded as one of the most competitive economies globally. Confirming this status, the World Economic Forum (WEF) has ranked Korea fifteenth overall for global competitiveness. Korea leads the ICT adoption pillar, boasting some of the world’s highest penetration rates of ICTs, and it ranks eighth on the innovation pillar. Notably, Korea ranks first in the world for research and development (R&D) investment as a percentage of gross domestic product (GDP) with an equivalent of 4.55%.
Despite these clear strengths, Korea faces a number of challenges to sustain its economic growth and social wellbeing. In response, Korea intends to diversify its national portfolio to include a clear focus on developing advanced ICT technologies and services with a number of Smart Cities initiatives serving as demonstrators. In this evolving context, the Expert Mission was undertaken to identify and develop opportunities for the UK.
About Global Expert Missions
The Global Expert Missions (GEM) programme is funded by Innovate UK and designed to build international collaborations with governments, societies, enterprises, institutions, and people from every corner of the globe. With global challenges requiring international perspectives, the programme aims to support the UK government’s ambition to be the international partner of choice and a global hub for innovation by 2035.